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$2.2 Billion Loan: CSOs back FG’s request for funds as a necessity for development

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…laud Tinubu’s administration for judicious application of resources.

The Centre for Social Justice, Equity, and Transparency (CESJET) has backed Federal Government’s request to borrow $2.2 billion to capital projects.

The Convener of the Group, Emeka Theodore while addressing journalists on Thursday in Abuja, said the funds are essential to the advancement of revenue-generating plans and institutional improvements.

He said rejecting this proposal is not a sincere concern for the national interest; rather, it is populist posturing that goes against logic and same reasoning.

“We are gathered here today, to discuss a matter of vital importance to the development and prosperity of our country: the Federal Government’s planned loan request of $2.2 billion. This initiative has seen a lot of pushback in recent weeks, most of it being misguided and uninformed.

“Evidently, it is important to understand that the oppositions to the borrowing plan is obviously unwarranted and counterproductive to Nigeria’s development. In Setting the record straight, it requires us to address the baseless complaints made of this loan while emphasizing its benefits and justification it would do to our great country”, he said.

Theodore noted that Nigeria is one of the few countries that have continuously fulfilled its financial commitments to foreign creditors.

“Through a strategic and structural plan in executing loan servicing, the President Tinubu led-administration has maintained repayment schedules and built confidence with foreign lenders.

“For example, income generating reforms have been used to carefully control the 2023 debt service-to-revenue ratio, despite the fact that it is still worrisome.

“It is noteworthy stating that fulfilling these responsibilities has not only maintained Nigeria’s reputation, but it has also increased foreign financial institutions’ trust in our capacity to carefully manage borrowed money. Nigeria continues to benefit from favorable rates on development funding and concessional loans because of this confidence”, he stated.

He reminded critics of the loan that the money collected in the past have been used for important development initiatives, infrastructure growth, and institutional changes.

CESJET further noted that the judicious use of borrowed monies to promote economic growth and address infrastructure deficiencies is demonstrated in projects like the Second Niger Bridge, the Lagos-Ibadan railway, and the ongoing Mambilla Hydropower Project.

“ This proposed $2.2 billion loan is no unusual; its goal is to fund vital industries that would help Nigerians in the long run”, the group said.

“In dispelling the myth on the borrowing-to-federal budget ratio, we wish to state categorically that, Nigeria’s borrowing plans are clearly in line with international best practices and do not impose an excessive cost.

“For example, a fiscal deficit of about ₦8 trillion is expected in the 2025 budget, which is estimated to be around ₦34 trillion. A manageable portion of current budget, the $2.2 billion loan fits the government’s fiscal policy to strike a balance between development requirements and long-term financial viability.

“Comparatively, the International Monetary Fund (IMF) recommends that developing economies have a debt-to-GDP ratio of not more than 55%. Nigeria’s debt ratio of about 35% puts the country in a better situation than that of other African peers, such as Ghana and Kenya, whose debt ratios are more than 60%. Nigeria has the financial capacity to borrow responsibly, as these numbers demonstrate.

“However, some critics have attempted to sabotage this important project. It is depressing to observe that their ideas frequently lack basic economic reasoning and instead rely on populist hyperbole. To propagate false information, some organizations have been enlisted to paint Nigeria’s borrowing as irresponsible and unsustainable.

“These organizations lack a thorough grasp of the economic forces at work and are frequently supported by anti-progress elements. 9. Opposing politicians should give up their populist stance and accept the realities of government for the benefit of the country.

“It will be in the good interest of the Nation for opposing lawmakers to abandon their populist approach and embrace the realities of governance. Clearly, their opposition runs the risk of sabotaging Nigeria’s growth, delaying the country’s advancement and leaving important projects underfunded.

“It is crucial to emphasize that denying the loan request will have disastrous effects on ongoing programs and projects. If the necessary funding is not obtained, infrastructure development, healthcare expansion, and educational changes might all be shelved. In addition to being a waste of money, abandoned projects often represent missed chances for economic diversification, job growth, and higher living standards.

“For example, lowering transportation costs and boosting regional trade depend on the completion of ongoing rail projects. The provision of sufficient money is critical to the viability of these projects. Therefore, the $2.2 billion loan is essential to securing Nigeria’s future and advancing its economic program, and not to be seen as a luxury, which a misguided thought and speculations occupying the mind of many.

“Cases just like the Investments in digital technologies and infrastructure, would increase the effectiveness of tax collection, diversifying Nigeria’s revenue streams and lowering its need on oil earnings. Likewise, financing agricultural changes will increase output, guaranteeing food security and boosting exports. The government intends to use a portion of the loan for mechanized farming and irrigation projects, which will greatly increase agricultural productivity, provide employment, and promote rural development.

“This said loan is an additional source to strengthen diverse empowerment, and further upgrade many of our sectors in maintaining their global reputation amongst other nations. It is clear that the loan is more than just a financial tool; it is a driving force behind revolutionary change in several important economic sectors.

“Additionally, President Tinubu led-administration continuous initiatives to increase non-oil earnings and diversify the economy would strengthen Nigeria’s ability to service its debt in no time unlike when the country was solely dependent on revenues from oil for its mega operations. These actions demonstrate the government’s dedication to fiscal restraint and judicious borrowing.

“Evidently, public support is crucial for the successful implementation of development projects. By highlighting the benefits of the proposed loan and addressing concerns transparently, we can build consensus and ensure the smooth passage of the loan request by the National Assembly (NASS).

“In conclusion, the $2.2 billion loan proposal is clearly a necessity for Nigeria’s progress. Rejecting this proposal would be self-defeating, compromising current initiatives and endangering the future of the country. In light of this, we urge National Assembly members to put the interests of the country above populist digressions. A better future for all Nigerians is at stake when the loan is approved; it is not just an economic choice, but a mission to save generations”, the group added.

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HON. JA’AFARU YAKUBU HONOURED WITH DOUBLE TRADITIONAL TITLES OF CHIROMAN GASSOL AND MARAFAN BAKUNDI BALI

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The Member representing Bali/Gassol Federal Constituency in the House of Representatives, Hon. Ja’afaru Chiroma Yakubu (ADC), has been conferred with two prestigious traditional titles — Chiroman Gassol and Marafan Bakundi Bali — in recognition of his exemplary leadership, commitment to public service, and immense contributions to community development.
The traditional honours were officially bestowed on the federal lawmaker by the revered traditional ruler of Bakundi Chiefdom, His Royal Highness, Alhaji Kabiru Muhammad Gidado Misa, the 10th Lamdo of Bakundi, during a colourful coronation ceremony attended by members of the royal family, community leaders, political associates, supporters, and well-wishers.
The conferment of the dual traditional titles has continued to attract widespread commendation from stakeholders across Taraba State and beyond, with many describing the recognition as a reflection of Hon. Ja’afaru Yakubu’s growing influence, grassroots connection, and unwavering dedication to the wellbeing of his people.
In a congratulatory message issued by his Special Assistant on Media and Publicity, Comrade Bashir Umar Dali, the lawmaker was described as a courageous, humble, and visionary leader whose commitment to humanity and community advancement has remained outstanding.
According to the statement, the titles Chiroman Gassol and Marafan Bakundi Bali are symbolic recognitions of the lawmaker’s selfless service, people-oriented representation, and tireless efforts towards promoting unity, peace, and sustainable development across Bali/Gassol Federal Constituency.
The statement further noted that Hon. Ja’afaru Yakubu has consistently distinguished himself through impactful representation, empowerment initiatives, and developmental interventions aimed at improving the lives of the people.
“Your commitment and selfless contributions to the growth and progress of the people continue to inspire many across Bali/Gassol Federal Constituency and beyond,” the statement read.
Comrade Bashir Umar Dali also prayed for greater wisdom, strength, honour, and divine guidance for the federal lawmaker as he continues to shoulder greater traditional and leadership responsibilities in service to the people.
Observers have described the conferment of the two traditional titles as a major endorsement of Hon. Ja’afaru Yakubu’s leadership credentials and his increasing relevance in the socio-political and traditional landscape of Taraba State.
The titles Chiroman Gassol and Marafan Bakundi Bali are regarded as highly respected honours within the traditional institution, reserved for individuals who have demonstrated exceptional character, loyalty, service, and commitment to the development and unity of their communities.

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EID-EL-KABIR: BELLO BABAYO BELLO COMMENDS TINUBU, SHETTIMA, GOMBE GOVERNOR AS HE FELICITATES WITH MUSLIMS NATIONWIDE

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The Executive Director, Networks, Niger Delta Power Holding Company Limited (NDPHC), Engr. Bello Babayo Bello, FNSE, has extended warm felicitations to Muslim faithful across Nigeria, particularly the people of Gombe State, on the occasion of the 2026 Eid-el-Kabir celebration, urging citizens to continue promoting peace, unity, love, and national development.
In a goodwill message released to journalists on the occasion of the Islamic festival, Engr. Bello described Eid-el-Kabir as a sacred celebration that reflects the virtues of sacrifice, obedience, faith, compassion, and gratitude to Almighty Allah as demonstrated by Prophet Ibrahim (AS).
He called on Muslims to use the spiritual significance of the season to strengthen the bonds of brotherhood, support one another, and continue praying for the peace, stability, and prosperity of Nigeria.
Engr. Bello also commended the leadership of President Bola Ahmed Tinubu, GCFR, for his commitment to national development, economic reforms, infrastructural advancement, and efforts aimed at strengthening unity and progress across the country.
According to him, the administration of President Tinubu has continued to demonstrate determination in laying foundations for long-term growth and national transformation through bold policies and strategic governance initiatives.
The NDPHC Executive Director equally praised Vice President Kashim Shettima, GCON, for his loyalty, dedication, and support toward the actualization of the Renewed Hope Agenda of the Federal Government.
He noted that the Vice President has continued to play a vital role in promoting stability, inclusion, and effective coordination within government.
Engr. Bello further applauded the Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, for what he described as purposeful leadership and remarkable strides in infrastructural development, healthcare, education, youth empowerment, and peaceful coexistence in the state.
He said the governor’s developmental policies and inclusive style of governance have continued to attract admiration and confidence from the people of Gombe State and beyond.
“Eid-el-Kabir remains a season of reflection, gratitude, sacrifice, and devotion to Almighty Allah. It is also a period that reminds us of the importance of unity, compassion, tolerance, and service to humanity. As we celebrate, we must continue to pray for our leaders and for the continued peace, progress, and prosperity of our dear nation,” he stated.
Engr. Bello urged Muslim faithful to extend love and kindness to the less privileged, widows, orphans, and vulnerable members of society during the Sallah festivities, stressing that charity and generosity are central teachings of Islam.
He also commended the people of Gombe State for sustaining the culture of peaceful coexistence, harmony, and mutual respect among diverse communities.
The engineering professional and public administrator expressed optimism that Nigeria would continue to witness greater development, unity, and economic advancement under the leadership of President Tinubu.
He prayed for Allah’s continued guidance, wisdom, protection, and blessings upon the President, Vice President, Governor Inuwa Yahaya, and all leaders across the country.
Engr. Bello finally wished Muslim faithful in Gombe State and across Nigeria a peaceful, joyous, and spiritually fulfilling Eid-el-Kabir celebration.

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Dogara Celebrates Eid El-Adha, Urges Nigerians to Embrace Unity, Sacrifice, and Compassion

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Rt. Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Board of National Credit Guarantee Company Limited (NCGC), has extended heartfelt felicitations to Muslims across Nigeria and around the world on the occasion of Eid El-Adha.

In his Eid message, Dogara described the festival as one of the most profound moments in the Islamic faith — a sacred season that embodies the enduring virtues of sacrifice, obedience, faith, and total devotion to God, as demonstrated by Prophet Ibrahim (AS). He noted that beyond its spiritual significance, Eid El-Adha serves as a powerful reminder of the values of compassion, generosity, and love for humanity.

According to him, the celebration offers an opportunity for reflection and renewal, urging Nigerians to recommit themselves to the ideals of unity, peace, and mutual understanding. He observed that the true essence of Eid lies not merely in celebration, but in the willingness to serve others selflessly and uplift the less privileged.

“Eid El-Adha reminds us that greatness is found in sacrifice, service, and compassion for one another. It is a season that calls us to strengthen the bonds of brotherhood, extend kindness to those in need, and renew hope for a better and more united nation,” Dogara stated.

The former Speaker stressed that the lessons of Eid should transcend religious and ethnic boundaries, especially at a time when Nigeria needs collective commitment to peace, justice, and national cohesion. He called on citizens to rise above division and work together in the spirit of patriotism and shared destiny.

“As we celebrate this sacred festival, may the spirit of sacrifice inspire us to build bridges of understanding, promote harmony across our communities, and work collectively for a more peaceful, just, and prosperous Nigeria,” he added.

Dogara further prayed that the blessings of Eid El-Adha would bring joy to families, healing to communities, and progress to the nation. He encouraged the faithful to use the occasion as a time for spiritual renewal, deeper devotion to God, stronger family ties, and renewed commitment to the common good.

“As families gather in prayer and celebration, may this Eid remind us of our shared humanity and our collective responsibility to serve with humility, love, and sincerity. May the Almighty accept our prayers and sacrifices, bless our homes with peace and happiness, and guide our nation toward greater unity and prosperity,” he concluded.

Dogara wished all Muslim faithful a peaceful and joyous Eid El-Adha celebration filled with divine blessings, love, hope, and renewed faith in the future of Nigeria.

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